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23.09.2015 12:19 PM
Gold analysis for September 23, 2015

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Overview:

Since our last analysis, gold has been trading sideways around the price of $1,125.00. The intraday trend is neutral. According to the daily time frame, we can observe a supply bar in an average volume. In the M1 time frame, we can observe a big sign of strenght (double selling climax) around the level of $1,124.40, which is a sign that selling looks risky at this stage. Watch for potential buying opportunities on the dips. Resistance level is at the price of $1,128.00.

Daily Fibonacci pivot points :

Resistance levels

R1: 1,132.30

R2: 1,135.25

R3: 1,140.15

Support levels:

S1: 1,122.75

S2: 1,120.00

S3: 1,115.00

Trading recommendations: Be careful when selling gold at this stage and watch for potential buying opportunities.

Summary
Urgency
Analytic
Petar Jacimovic
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